British Billionaire, Owner of Tottenham Soccer Team, Arrested for Insider Trading
British Billionaire, Owner o...
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British Billionaire, Owner of Tottenham Soccer Team, Arrested for Insider Trading

26 July 2023
2 min.
British Billionaire, Owner of Tottenham Soccer Team, Arrested for Insider Trading

Arrested in New York

British billionaire Joe Lewis, renowned owner of Tottenham Hotspur, has been arrested in New York on charges of insider trading, along with his pilots O’Connor and Waugh. Lewis staunchly denies the accusations and has enlisted the services of attorney David M. Zornow to mount a robust defense.

Lewis's Defense

Lewis's attorney, David M. Zornow, is leading the defense and vigorously contesting the charges. He highlights Lewis's impeccable character and long list of accomplishments, emphasizing the determination to fight the allegations. Zornow criticizes the government's judgment and characterizes the charges as "ill-conceived."

Pilots' Involvement

The indictment sheds light on Lewis's involvement in providing inside information to not only his romantic partners and personal assistant but also to his two private pilots, O'Connor and Waugh. Additionally, it reveals that Lewis extended substantial loans of $500,000 each to the pilots for investment in a cancer drug company.

The pilots, being privy to confidential information regarding the company's encouraging clinical trial results, acted upon Lewis's instructions and made strategic moves in the stock market. As a result, they realized significant financial gains, which has now drawn the attention of legal authorities.

Lewis's Background and Business Ventures

Lewis's prominence as a British billionaire stems from his smart investments in real estate, biotechnology, energy, and agriculture industries. His fortune, estimated at $6.1 billion, has been built through astute business acumen.

Apart from being the owner of Tottenham Hotspur, Lewis boasts substantial stakes in over 200 global companies. His connections with influential figures in sports and entertainment, such as Tiger Woods, Ernie Els, and Justin Timberlake, add to his distinguished profile.

Lewis's discerning taste for art is evident through his exceptional collection, featuring masterpieces by renowned artists like Picasso and Matisse.

Persons 4 in the news

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